On November 27, 2008, the Council of the European Union reached a political agreement on the review of the EU telecoms package (regulatory framework for electronic communications networks and services), including the e-Privacy Directive (Directive 2002/58/EC). The Council now has to adopt a common position which will serve as a basis for the second reading by the European Parliament. The second reading should not be expected before late March 2009.
Therefore, the review is not yet final and changes are still anticipated. The revised directive should enter into force on December 31, 2009, but will still have to be implemented into the national law of the individual Member States. The latest version of the proposal can be found here. More information about the legislative process is available here.